1. When reviewing a document to determine what has been granted what is the best way, in most situations,to address this issue?

Examine the title of the document

Examine thesignature of the granter

Examine thenotary public'sacknowledgement

Examine thewords of grant in the document

Examine the testimony of the grantor

Ask the opinion of the grantee

None of the above

Question 2

The most common estate granted in the U.S.in real estate transactionis a :

Life estate

Estate for years

Estate per accidents

Fee simple absolute

Terminable fee estate

None of the above

Question 3

An owner of real property lives in Oklahoma.She is selling toa party who lives in Alabama.The property is located in Texas.As disputed arises.In general , what law applies?

Oklahoma

Alabama

Texas

Wherever the courthouse is located

It will be decided by a judge

Wherever title originated

None of the above

Question 4

A party gets a grant of real property from the U.S. government.What they generally own,if they have been awarded the grant in fee simple absolute?

Surface rights

Mineral rights

Ground level rights to the heavens

Ground level rights to the center of the earth

Underground water

All of the above

Question 5

A tree is cut from a tract of land and stacked in a neat pile to be used as firewood next Winter.From a legal classification standpoint what would the wood be considered?

Real property

Personal property

Product of the soil

A service

An incorporeal hereditament

An easement

None of the above

Question 6

A tree is growing on a tract of land.From a legal classificationstandpointwhat would the tree be considered?

Real property

Personal property

Product of the soil

A service

An incorporeal hereditament

An easement

None of the above

Question 7

A 75year old tree is located on your property.The neighbor claims they have the right to cut it down due to an oral agreement made with previous owner of your property. Can that previous agreement be enforced?

Yes,covenants run with the land

Yes,if you were aware of the promise when you bought the land

Yes,if the real estate was aware of the agreement

No, in general the agreement must be in writing

No, any agreement to harvest trees or crops must designate harvest limitations

None of the above

Question 8

A 75year old tree is located on your property.The neighbor claims they have the right to cut it down due to the oral agreement madewith previous ownerof your property. What does a landowner generally ask for to deal with this situation?

Monetary damages to replace the tree

A hold harmless agreement should the agreement be enforceable

A short gun to keep the neighbor off the property

An injunction from a judge to prevent irreparable harm

A police order to keep the public off the land

None of the above

Question 9

You are granted a fee simple absolute title to property from the U.S.government.Can a government entity restrictthe use ofthose lands without compensating you as the owner?

No,the owner has the ' full bundle of sticks'

No, the rights are inherent in the U.S.Constitution

Yes,to protect the public health,welfare and safety

Yes, as part of the constitutional power to take property without compensation

None of the above

Question 10

You have a fee simple absolute interest in a 10 acre tract of land in New York.You are tired of paying taxes on it and want to abandon the title.Can you abandon real property under real property law?

Yes, all property can be abandoned

No,real propertycannotgenerally be abandoned

Yes, but only with a court order

No,in generalpersonal property cannot be abandoned

None of the above

Question 11

You have been granted a life estate and have been designated life tenant.Your cousin Vinnie is the remainderman. Withoutthe permission of the remainderman, which of the following is true?

You can plant and harvest corn on the property

You can cut timber growing on the property

You can tear down the house and barn on the property

You cannot pay real estate taxes on the property

You cannot sell groundwater or oil from a well on the property

None of the above

Question 12

A husband and wife live on a tract of land and use it as their principle residence.Title to the tract,the deed,only lists the wife as the owner.Which of the following is true if the property is to be sold to a third party?

Only the husband has to sign the deed

Only the wife has to sign on the deed

Both the husband and wife have to sign the deed

Both the husband and wife have to sign the deed, and district court has to approve

None of the above

Question 13

A fee simple absolute estate does not include which of the following attributes?

Power to convey

Power to designate who will inherit

Lasts an indefinite time period

Has the bundle of rights to utilize the land as desired

The right to compel easements over adjoining tracts

Question 14

An estate that is time limited,or potentiallytime limited, isreferred to as:

Life estate

Fee simple absolute

Determinable fee

Fee simple on condition subsequent

More than one of the above

Question 15

When the estates are severed, with a separate surface owner and separate mineral owner, who owns the fresh groundwater?

Surface owner

Mineral owner

Surface and mineral owner jointly

The local water district owns the water

It is subject to court interpretation

Question 16

In a fee simple absolute ownership,how many co-tenants or co-owners can you have in a one acre tract of land in Texas?

One

Two

Twenty-two

An unlimited number

Depends on the country

None of the above

Question 17

If you want to finance the real estate transaction and the party who is lending the money wants a security interest in the property,what is the appropriate document to perfect an interest in a real property?

Financing statement

Personal note

Corporate note

Mortgage

SEC filing

None of the above

Question 18

Property ownership in U.S.is unique since an owner of the fee generally also is allowed to own which of the following in addition to the surface:

Crops

Water rights

Timber rights

Mineral rights,including oil and gas

Supernatural rights

None of the above

Question 19

The value of real property is determined to some extent by:

The rule of law

The cash flow it can generate

The rights granted by the deed or grant

The limitations placed by the local government

All of the above

None of the above

Question 20

The description of the legal propertyowned or conveyed is important for a number of reasons. In the U.S:

We have one method that is legally allowed to describe property descriptions

The method utilized to describe property was adopted from Austria

The method utilized to describe property was adopted fromRussia

We have more than one method that can be used to describe property,depending on where the land is located

None of the above

Question 21

Which party has a non-possessoryestate?

Fee surface estate owner

Life tenant of a life estate

Fee simple determinable owner

Life estate remainderman

None of the above

Question 22

An owner of the mineral estate in fee simpleabsolute owns how deep under the surface?

A reasonable distance

100 feet below mean sea level 3

To China

To the center of the earth

None of the above

Question 23

Texas has a somewhat unique system to describe real property because:

The early legislature was very creative

Texas used to be a separatecountry and adopted portionof Spanish Law

The early legislature adopted the system proposed by Thomas Jefferson

All of the above

None of the above

Question 24

If you have a non-possessoryinterest in land:

You have a right to enter the property to survey

You have a right toenter the land for an accounting

You generally have no right to possession or entry

You can pay a third party to enter under color of title

None of the above

Question 25

Historically, a life tenancy has been used:

As a means to avoid property taxation

As a means to hide property from creditors

As a means to mortgagea property to a lender

As a means toavoid probate proceedings

None of the above